Corebridge Financial Inc. lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,977 shares of the company's stock after selling 3,267 shares during the quarter. Corebridge Financial Inc.'s holdings in Cardinal Health were worth $6,975,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CAH. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cardinal Health by 35.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company's stock valued at $3,871,000 after buying an additional 8,471 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its holdings in Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company's stock valued at $28,435,000 after purchasing an additional 3,576 shares during the last quarter. Geode Capital Management LLC boosted its position in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after purchasing an additional 42,082 shares during the period. Consolidated Planning Corp increased its stake in shares of Cardinal Health by 40.0% in the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock worth $1,056,000 after purchasing an additional 2,552 shares in the last quarter. Finally, Flputnam Investment Management Co. increased its stake in shares of Cardinal Health by 1.8% in the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock worth $21,358,000 after purchasing an additional 3,148 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Citigroup lifted their price target on Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and increased their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Mizuho increased their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $140.14.
Read Our Latest Report on CAH
Cardinal Health Trading Up 0.9 %
Shares of Cardinal Health stock traded up $1.30 on Wednesday, hitting $138.43. 328,793 shares of the company traded hands, compared to its average volume of 2,381,260. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $138.90. The company has a market cap of $33.44 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.49 and a beta of 0.66. The firm's 50-day simple moving average is $128.78 and its 200 day simple moving average is $121.20.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.
Cardinal Health Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's payout ratio is currently 37.69%.
About Cardinal Health
(
Free Report)
Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.
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